Unlocking Success in Family-Owned Businesses: An Examination of Personal Qualities, Management Skills and Opportunity Recognition

Authors : Begüm AL

Pages : 148-172

View : 52 | Download : 56

Publication Date : 2023-07-26

Article Type : Research Paper

Abstract :This research explores the influence of personal qualities, management skills, and opportunity recognition skills on venture performance in family-owned businesses. The study adopts a deductive approach, formulating hypotheses based on existing literature to investigate the relationship between entrepreneurial competencies and business performance. Using a combination of qualitative and quantitative methods, data is collected through semi-structured telephone interviews with family business owners. The collected data is analyzed using descriptive statistics, Pearson correlation coefficient analysis, and regression analysis to examine associations and predictive relationships among the identified competencies. The findings reveal that family business owners exhibit risk-taking tendencies and optimism, with perseverance as a major strength but facing challenges related to decision-making and delegation. Limited emphasis on research and development and market research is observed. The analysis indicates a strong positive association between opportunity recognition skills and managerial skills. Regression analysis confirms significant associations between opportunity recognition skills, managerial skills, and sales growth. However, managerial skills demonstrate an inverse relationship with sales growth.
Keywords : Aile işletmeleri, Kişisel Nitelikler, Yönetim Becerileri